TSXV:AAA.P - Post by User
Post by
sdomaeon Jun 01, 2013 7:56pm
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Post# 21471767
Money in the Bank
Money in the Bank Anyone who really wants to know how much cash we have in the bank just has to ask Abasov. They can easily find that we have $20M, not $30M or $1M. They can also find out that we need $5M to take us to the end of the year. That assumes that we don't have to pay $7.5M to BEMA Investment Holdings Corp. We could pay them in shares , a little more dilution, but we're used to that reality , right?
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"In addition, prior to closing, the parties will enter into an agreement with BEMA Investment Holdings Corp. ("BEMA"), the largest shareholder of Nova, pursuant to which, in the event the Nova Resource Estimate exceeds 45 million tonnes of potassium chloride within the sylvinite zone, Allana shall pay BEMA an additional fee of $7.5 million, payable at the sole discretion of Allana in cash or shares at the then current market price (the "Bonus Fee Shares")."